UBS Group expects that the price of gold will approach $2,800 per ounce over the next two years. The sustained macroeconomic uncertainty and geopolitical risks will continue to drive strong global central bank demand for gold. UBS raised its annual gold price forecast to 2028, and specific adjustments can be seen in the chart below. Analysts such as Levi Spry pointed out that strong physical demand and official department purchase behavior jointly promoted a "significant upward movement" in the gold trading range, and this trend is also expected to benefit silver. The price of silver is expected to reach $40 per ounce. Investors still have a lot of room to increase their positions in gold, which may be a key factor driving further price increases. Uncertainty surrounding the US election in the coming months may also be another driving force.